Fort Worth takes a new look at restrictions on payday lending
May 18, 2014
Fort Worth, the only major city in the state not to pass an ordinance restricting the operations of payday lenders, is taking a new look at the issue. Two weeks ago, City Manager Tom Higgins released a report on payday lenders for council members, noting that most of the 15 cities in Texas that have passed new regulations have been sued by a trade group representing the lenders. Responding to a council request, the report said city staff members would monitor the lawsuits against San Antonio and Dallas to determine if it’s practical to adopt a payday loan ordinance here. Read more here.